Reply to Why do people think you have to spend so much on your kids?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP these old lessons you are teaching no longer benefit kids. While your child is slumming it at community college for 2 years, their peers have an established peer group and contacts with professors. Your child misses out on all the extra network building from study abroad as well as Greek membership if they are into it. Perhaps most importantly, your kid will be waiting tables or tending bar late night while their peers study for 4.0s and use their network for summer internships.

In sum, you are expected to use your $400k to help set your child up for success. Also realize your child may miss some early opportunities because they need to take a more miserable job (or multiple jobs) to service their loans.[/quote]

My DS went to a CC and then transferred to Virginia Tech. He didn't qualify for financial aid. We paid for his tuition at the CC in full but we only paid half of his tuition for the 2 years at Virginia Tech. A loan was used to cover the other half. In state tuition is around 14k. He worked part-time and did some paid internships that helped pay for room and board, and some living expenses. 
He graduated magna cum laude last year and got his first job at Amazon making over six figures. 
He is not an exception. I have seen many kids with similar paths.

Do you what you think is good for your kids. But don't fool people into thinking that others who take a different paths will not succeed.

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They may well succeed, but you also should also be prepared for the fact that your kids may want little to nothing to do with you in adulthood knowing you had ample resources to make their educational path easier and chose to be selfish.[/quote]

Maybe your kids will, but my kids and most kids that were not raised as entitled children won't. 
My kids know from a very young age that even though we have money, we would give them the minimum to start their own life. They will need to forge their own path and work to build their own wealth. It worked for my grand-parents, it worked for my parents, it is working for me and my kids. 
It may not work for you and your kids though. So don't do it. Do what works for you and let others do what works for them.
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The minimum has changed quite drastically. Earning a high income but not providing substantial support for college just teaches your child how to get hustled and scammed by banks when you are poor. I sure wouldn't teach a life lesson to my children by racking them with high-interest private loans for undergrad. Meanwhile their social peers graduate debt free and move into nice neighborhoods.[/quote]

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